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Do stocks outperform Treasury bills?

Wong, Winnie
Master thesis
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URI
http://hdl.handle.net/11250/2625322
Date
2019
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  • Master of Science [1117]
Abstract
This thesis highlights the important role of positively skewed short horizon stock

returns, and the effect of compounding on the long-term return distribution. I show

that the majority of individual common stocks deliver a lifetime buy-and-hold return

less than the accumulated one-month Treasury bill rate over matched horizons, and

that they often are negative - the results help explain why poorly diversified active

strategies often will underperform market averages.
Description
Masteroppgave(MSc) in Master of Science in Business, Finance - Handelshøyskolen BI, 2019
Publisher
Handelshøyskolen BI

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